COMPOSABLE SOLUTIONS

At Simfoni we believe in Composable Procurement. Yup, you read that right… Composable Procurement. That’s a new approach to solution design where you select best-of-breed software modules – from the same vendor – so they already work together seamlessly (and with your existing systems) rather than connecting them with endless APIs or buying a monolithic, all-in-one monster. Below are some examples of composable designs that address common solution challenges. Don’t see your specific issue? We are happy to talk through your problem and identify a composition that can help you.

SIMFONI – SEE SPEND DIFFERENTLY.

DIGITAL PROCUREMENT TRANSFORMATION

Move processes from paper and people to AI and automation.

Digital transformation is more than just getting rid of paper copies. It includes opportunities to capture information, analyze data for insights, and automate processes. The increase in cross-system flow improves workers’ ability to make data-driven decisions.

SPEND ANALYTICS

SPEND ANALYTICS

Gain level 4+ visibility on your spending patterns with automated categorization. Measure procurement performance and illuminate insights with automatically calculated KPIs and metrics.

SAFE HARBOR SOURCING

SAFE HARBOR SOURCING

Users can run their own RFx within the company guidelines using already approved vendors. This captures formerly maverick spend, keeps buying compliant, and reduces the workload of the procurement team.

ORDER MANAGEMENT

ORDER MANAGEMENT

Flip Requisitions to start an RFQ process that automates the manual work of emailing vendors, collecting responses, and ranking proposals.

CONTRACTS REPOSITORY

CONTRACTS MANAGEMENT

Gain insights on your procurement efficiency from your existing contracts. Investigate common terms, what is under, and not under, contract, and possible risk of non-compliance.

SPEND ANALYTICS

SPEND ANALYTICS

Automated, deep categorization happens for products, services, and vendors providing lots of ways to slice and dice your data. Compare spend under contract to Spot Buys. See opportunities to consolidate vendors.

ORDER MANAGEMENT

ORDER MANAGEMENT

Use the most cost effective and efficient process to make purchases. Users are guided to Marketplace and Catalog purchases unless an RFx process is absolutely necessary.

OPPORTUNITY ASSESSMENT

OPPORTUNITY ASSESSMENT

Identify savings activities options. Prioritize based on estimated savings and ease of completion.

MARKETPLACE

MARKETPLACE

Online marketplace purchases drive savings, concentrate volume across select vendors, and capture spend that was previously lightly (or not) tracked.

TAIL SPEND CONTROL

Small deals add up — 80% of suppliers account for only 20% of spend.

Making it easier to buy using the system captures more spend, provides more visibility and control over tail spend. And when you consolidate purchases you can negotiate with vendors to save even more.

SUPPLIER DIVERSITY MANAGEMENT

Beyond tracking diversity. Enabling change.

Knowing what percentage of suppliers is diverse is not enough. See how much you spend with each one and make positive changes to use and support them more.

SUPPLIER DIVERSITY

SUPPLIER DIVERSITY

Automatically know which of your suppliers are certified diverse suppliers and in which diversity categories – minority, women, veteran, and disabled.

SPEND ANALYTICS

SPEND ANALYTICS

See your spending patterns with diverse and non-diverse suppliers and take action. Dashboards have special filters to look at each area through diversity specific lenses.

IMPACT ASSESSMENT

IMPACT ASSESSMENT

Understand the environmental, social, and corporate governance impacts of each of your suppliers.

SUPPLIER DIVERSITY

SUPPLIER DIVERSITY

Add this for tracking supplier diversity as part of socially responsible procurement.

SPEND ANALYTICS

SPEND ANALYTICS

Dashboards and metrics show where you can move spending to strong ESG vendors.

VENDOR REGISTRATION

VENDOR ENGAGEMENT

Vendors can maintain their profiles and update you on new ESG & CSR certifications.

SOCIALLY RESPONSIBLE PROCUREMENT

Using a vendor with the cheapest price doesn’t hold water if they are polluters.

Companies are accountable for using vendors that support environmental sustainability, drive for social impact, and maintain proper corporate governance (ESG). Drive data into your corporate social responsibility (CSR) program.

SAVINGS REALIZATION

Insights on your spending trends, savings opportunities and resulting cost realities.

Guide your procurement and sourcing teams on ways to save. Keep them motivated by showing them the fruits of their labor.

SPEND ANALYTICS

SPEND ANALYTICS

Analyze trends and opportunities by pulling insights from rich data pools created by automated deep categorization.

SAVINGS REPORTING

SAVINGS REPORTING

See and share actual savings results as you finish each initiative. Project the future savings from work done today.

OPPORTUNITY ASSESSMENT

OPPORTUNITY ASSESSMENT

Identify savings activities options. Prioritize based on estimated savings and ease of completion.

ORDER MANAGEMENT

ORDER MANAGEMENT

Capture and track your spend more easily when everyone uses the right procurement tools.

SPEND ANALYTICS

SPEND ANALYTICS

Well categorized price and vendor data allow better matching to similar products and suppliers.

PAYMENT TERM ANALYSIS

PURCHASE PRICE VARIANCE

Seeing the variation of prices you pay across vendors and comparing to real price benchmarks, exposes additional savings opportunities.

PURCHASE PRICE VARIANCE (PPV) BENCHMARKS

Insights on your spending trends, deep visibility into spend data.

When it's easier to buy using the system, you gain visibility and control. Consolidate purchases to save even more.

KPIS, BUDGETS, AND FORECASTING

Capture regular spot buys into forecasts and budgets.

Use your historical data to help predict what you need to buy in the future. Turn repeated spot buys into more contracted volume.

SPEND ANALYTICS

SPEND ANALYTICS

Analyze trends and opportunities by pulling insights from rich data pools created by automated deep categorization.

SPEND ANALYTICS

SPEND ANALYTICS

Zero in to where the maverick spending happens with dashboards, graphs, and charts.

CATALOG HOSTING

CATALOG HOSTING

Repeated maverick purchases can be moved to in-system spend by adding the option to the online marketplace in your own custom catalogs.

OPPORTUNITY ASSESSMENT

OPPORTUNITY ASSESSMENT

The easy-to-use systems guides users to purchase items in the most cost-efficient way.

MARKETPLACE

MARKETPLACE

The online marketplace is an easy way to buy lots of things with a pre-negotiated discount.

MAVERICK SPEND CONTROL

Find and corral out-of-bounds spending.

People take the easy way to get what they want. Make it easier to buy using the system and people will buy with the system. We've created a spend management platform everyone loves. We promise!

AUTOMATED OPPORTUNITY ASSESSMENT

With so many ways to save, where should you start?

Start with your company goals. Look through the opportunity assessment module to find projects that align with those goals. We recommend that you pick the one with the biggest bang for the lowest amount of effort.

SPEND ANALYTICS

SPEND ANALYTICS

The KPIS and metrics found in the spend analysis for the foundation of the opportunities and savings calculations.

OPPORTUNITY ASSESSMENT

OPPORTUNITY ASSESSMENT

Start saving sooner by letting Simfoni identify savings opportunities. Review them for estimated savings, ease of completion and alignment with corporate targets.

SPEND ANALYTICS

SPEND ANALYTICS

Deeply categorized data illuminates spending with various suppliers across locations, business units, and departments.

SUPPLIER DIVERSITY

SUPPLIER DIVERSITY

Take it a step further and make sure that some of the suppliers are from diverse groups and support diverse communities

SUPPLIER OPTIMIZATION

Reward good suppliers with more business.

And reward yourself with fewer vendors to manage. While having alternate sources is important, having too many is a hassle and it reduces volume discounts.

EPROCUREMENT

eProcurement tools financed by your savings.

Really? Yup. Commonly, the monthly savings is more than enough to cover the cost of the tools. Plus, our unique Pay-As-You-Save (PAYS) business model means your payments are based on how much you use and save with our Autonomous Buying tools, not for access to those tools. Get more in system spend with less workload for your procurement team through Spend Automation and democratizing procurement.

ORDER MANAGEMENT

ORDER MANAGEMENT

From requisition to purchase order, your users are guided through the best way to buy a product or service.

SAFE HARBOR SOURCING

SAFE HARBOR SOURCING

Non-procurement users can run their own RFx process within your rules and approved vendors. The system handles the repetitive work of contacting vendors and collecting responses, plus organizes proposals and bids for decision making.

MARKETPLACE

MARKETPLACE

Purchase online from vendors of frequently purchased items with pre-negotiated discounts. Everything from office supplies to cleaning supplies and promotional products to printers and toner is available.

SIMFONI SOLUTIONS FOR PROCUREMENT AND FINANCE TEAMS

Finance teams use Simfoni to drive change-digitizing systems to remove the hassle and headaches of procurement.

Procurement teams use Simfoni to drive performance savings across the board: efficiency, process, time and hard dollars.

GUIDES

SPEND ANALYTICS 101

Learn the fundamentals of Spend Analytics, the key to understanding your spending patterns and opportunities.

CONTACT SIMFONI
Partner With Simfoni

IMPACT ASSESSMENT 101

Learn how the decisions you make impact environmental, social, and governance (ESG).

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Supplier Diversity Dashboard

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